Latest On Coronavirus

Latest on Coronavirus

MOSCOW (UrduPoint News / Sputnik - 26th March, 2020) Moody's is warning of severe downturn for G20 countries as the states continue to offer measures to save the economy amid the coronavirus outbreak.

Italy saw 3,491 new cases in 24 hours, bringing the total to 57,521 active cases, in addition to 7,503 deaths and 9,362 recoveries. This marks, however, the decline in the number of the new cases for the fourth day in a row.

In Spain, there are almost 48,000 cases, including 3,434 deaths. Germany registered 4,118 new cases in the last 24 hours, bringing the total to 31,554. France recorded some 2,900 new cases in 24 hours, which brings the total to over 25,000.

The United States now counts 54,453 cases, up from 44,183 on Tuesday, according to the The US Centers for Disease Control and Prevention. Meanwhile, Johns Hopkins University reports 60,155 confirmed cases.

As lockdowns and milder restrictions continue across the globe, worries over the economy persist. The Group of 20 economies will experience a shock like never before from the crisis forced by the novel coronavirus pandemic, ratings agency Moody's said Wednesday. The agency expects G20 economies to shrink in 2020 before regaining growth in 2021.

Russian President Vladimir Putin has announced several measures aimed at preventing the spread of the virus and supporting the economy amid the outbreak: one-week nationwide paid leave, tax deadline delays for businesses, review of unemployment benefits and medical leave payments.

Canada will be rolling out a $1,400 benefit for workers whose income streams have been affected by the pandemic, Prime Minister Justin Trudeau announced on Wednesday.

The German parliament on Wednesday approved a set of measures to support the economy worth 156 billion Euros, or about $168 billion, amid the coronavirus pandemic.

Meanwhile, the United Nations has launched a $2-billion plan to help the world's most vulnerable countries respond to the pandemic and prevent humanitarian catastrophes, UN Secretary-General Antonio Guterres announced on Wednesday.

The time is not right to investigate who is to blame for the spread of the coronavirus disease at the moment, US State Secretary Mike Pompeo said Wednesday.

"But there will be a right time after we have managed to address this crisis, after we have managed to get these economies back on their feet, there will be a time for the world to evaluate responsibility for what took place," Pompeo added.

The US state secretary then urged China to provide "good information" about "the level of the virus" inside the country.

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